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Criteria of External Sustainability

Criteria of External Sustainability »

Source: Criteria of External Sustainability

Volume/Issue: 1988/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 1988

ISBN: 9781451965209

Keywords: current account, current account balance, current account imbalances, foreign debt, current account imbalance

This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution...

Estimating Iceland's Real Equilibrium Exchange Rate

Estimating Iceland's Real Equilibrium Exchange Rate »

Source: Estimating Iceland's Real Equilibrium Exchange Rate

Volume/Issue: 2007/276

Series: IMF Working Papers

Author(s): Robert Tchaidze

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2007

ISBN: 9781451868395

Keywords: real exchange rate, disequilibrium, current account, exchange rate, current account deficit, external debt,

Given recent developments in Iceland, this paper evaluates its real exchange rate disequilibrium. It discusses three approaches to estimating the equilibrium values and suggests that the adjustment needed to bring...

External Finance and Foreign Debt in Central and Eastern European Countries

External Finance and Foreign Debt in Central and Eastern European Countries »

Source: External Finance and Foreign Debt in Central and Eastern European Countries

Volume/Issue: 1997/134

Series: IMF Working Papers

Author(s): Stefano Manzocchi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 October 1997

ISBN: 9781451855562

Keywords: foreign debt, capital inflows, current account, capital markets, capital flows

External finance can provide a positive contribution to the transition process and can enhance welfare in former centrally planned economies, especially when domestic saving has not fully recovered after the initia...

External Vulnerability in Emerging Market Economies

External Vulnerability in Emerging Market Economies »

Source: External Vulnerability in Emerging Market Economies : How High Liquidity Can Offset Weak Fundamentals and the Effects of Contagion

Volume/Issue: 1999/88

Series: IMF Working Papers

Author(s): Christian Mulder , and Matthieu Bussière

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1999

ISBN: 9781451851144

Keywords: Vulnerability indicators, economic crises, emerging markets, short-term debt, exchange rate, current account, real exchange rate, current account deficit

This paper investigates the factors behind the 1994 and 1997 crises and whether these can explain the 1998 crisis. The study reveals that: (i) variables used in an Early Warning System model developed by IMF staff...

Resolving a Large Contingent Fiscal Liability

Resolving a Large Contingent Fiscal Liability »

Source: Resolving a Large Contingent Fiscal Liability : Eastern European Experiences

Volume/Issue: 2008/159

Series: IMF Working Papers

Author(s): Mark Flanagan

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870176

Keywords: Contingent liability, macroeconomic stabilization, debt service, current account, fiscal policy, debt settlement,

On occasion, a government may find itself confronted with a need to address a large contingent or off balance sheet fiscal liability. Implementing a settlement raises issues of fiscal sustainability and macroeconom...

Four Decades of Fund Arrangements

Four Decades of Fund Arrangements »

Source: Four Decades of Fund Arrangements : Macroeconomic Stylized Facts Before the Adjustment Programs

Volume/Issue: 1995/74

Series: IMF Working Papers

Author(s): Julio Santaella

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 July 1995

ISBN: 9781451849530

Keywords: balance of payments, external debt, export markets, current account, debt crisis

This paper analyzes the initial conditions before Fund financial arrangements are adopted. Evidence from 324 Fund arrangements in 78 developing countries during 1973-91 indicates that there are important difference...

Data Consistency in IMF Publications

Data Consistency in IMF Publications »

Source: Data Consistency in IMF Publications : Country Staff Reports Versus International Financial Statistics

Volume/Issue: 2005/46

Series: IMF Working Papers

Author(s): John Cady , and Anthony Pellechio

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2005

ISBN: 9781451860658

Keywords: International Financial Statistics, statistics, current account, balance of payments, public debt, current account balance, Methodology for Collecting, Estimating, and Organizing Macroeconomic Data, International Finance: General

Data published in IMF country staff reports and International Financial Statistics (IFS) may differ for identical variables and, at times, users may be unaware of the reasons for these differences and lack the info...

Criteria of External Sustainability

Criteria of External Sustainability »

Volume/Issue: 1988/60

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 July 1988

DOI: http://dx.doi.org/10.5089/9781451965209.001

ISBN: 9781451965209

Keywords: current account, current account balance, current account imbalances, foreign debt, current account imbalance

This paper analyzes the main conceptual issues that arise in assessing external sustainability with a view toward developing operational criteria for the purposes of multilateral surveillance. The main contribution...

External Liabilities and Crises

External Liabilities and Crises »

Source: External Liabilities and Crises

Volume/Issue: 2013/113

Series: IMF Working Papers

Author(s): Luis Catão , and Gian Milesi-Ferretti

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 16 May 2013

ISBN: 9781484315910

Keywords: International Investment Positions, Current Account Imbalances, Foreign Exchange Reserves, net external debt, net debt, current account balance, Financial Markets and the Macroeconomy, International Lending and Debt Problems, Foreign Exchange Reserves.,

We examine the determinants of external crises, focusing on the role of foreign liabilities and their composition. Using a variety of statistical tools and comprehensive data spanning 1970-2011, we find that the ra...

Sudden Stops and Optimal Self-Insurance

Sudden Stops and Optimal Self-Insurance »

Source: Sudden Stops and Optimal Self-Insurance

Volume/Issue: 2008/144

Series: IMF Working Papers

Author(s): Jun Kim

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870022

Keywords: sudden stop, country insurance, optimal reserves, global game, probability, short-term debt, calibration, current account, reserve accumulation,

This paper presents a simple model of optimal reserves that can be easily calibrated to compute optimal reserves as well as the implied probability of a sudden stop for given reserves. The model builds upon the glo...